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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORITECH PTY LTD |
|
|
|
|
Registered Office : |
C/o Active Accounting & Financial Services Pty Ltd 6 Lowe Street Ballarat Victoria 3350 |
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Country : |
Australia |
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Date of Incorporation : |
11.12.2007 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of tools and equipments. |
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No. of Employees : |
06 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1.0 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a strong
and stable financial system. By 2012, Australia had experienced more than 20
years of continued economic growth, averaging 3.5% a year. Demand for resources
and energy from Asia and especially China has grown rapidly, creating a channel
for resources investments and growth in commodity exports. The high Australian
dollar has hurt the manufacturing sector, while the services sector is the
largest part of the Australian economy, accounting for about 70% of GDP and 75%
of jobs. Australia was comparatively unaffected by the global financial crisis
as the banking system has remained strong and inflation is under control.
Australia has benefited from a dramatic surge in its terms of trade in recent
years, stemming from rising global commodity prices. Australia is a significant
exporter of natural resources, energy, and food. Australia's abundant and
diverse natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable
energy sources. A series of major investments, such as the US$40 billion Gorgon
Liquid Natural Gas project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and
services. The process of opening up has increased productivity, stimulated
growth, and made the economy more flexible and dynamic. Australia plays an
active role in the World Trade Organization, APEC, the G20, and other trade
forums. Australia has bilateral free trade agreements (FTAs) with Chile,
Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with
ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia,
Japan, and the Republic of Korea, as well as with its Pacific neighbors and the
Gulf Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam
Source
: CIA
Verified Address
Subject name : ORITECH PTY LTD
Other style / Business name : GT CASES
Business address : 33 Production Drive
Town : Alfredton
Province : Victoria
Zip/postal code : 3350
Country : Australia
Tel : +61 3 53383444
Fax : +61 3 53342322
Email : sales@oritech.com.au
Website : www.oritech.com.au
Registered address
C/o ACTIVE ACCOUNTING & FINANCIAL SERVICES PTY LTD
6 Lowe Street
Town : Ballarat
Province : Victoria
Zip/postal code : 3350
Country : Australia
Executive Summary
Date founded or registered : 11/12/2007
Legal form : Australian Proprietary Company
Chief executive : Paul Raymond Kingon
Issued & paid up capital : AUD 100
Line of business : Import and distribution of tools and equipments.
Staff employed : 6 employees
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 11/12/2007
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 128861352
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 37927458987
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Other registration : GT CASES is a business name owned by the Subject registered on 08/04/2010
under business registration no: B2271224F.
Key Management
Name : Paul Raymond Kingon
Designation : Managing Director
Appointments
Name : Paul Raymond Kingon
Designation : Director and Company Secretary
Appointment date : 11/12/07
Address : 26 Ryan Street
Brown Hill, VIC 3350
Australia
Biography : Born on 25-04-1959 in South Africa.
Name : Janette May Kingon
Designation : Director
Appointment date : 11/12/07
Address : 26 Ryan Street
Brown Hill, VIC 3350
Australia
Biography : Born on 05-03-1964 in South Africa.
Staff employed : 6 employees
Composition
Authorized Capital : AUD 100
No of shares : 100 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 100
Paid up capital : AUD 100
How listed : Full List
Composition
Shareholder name : Paul Raymond Kingon
Address : 26 Ryan Street
Brown Hill, VIC 3350
Australia
No. of shares : 50 Ordinary Shares
% of shares : 50%
Shareholder name : Janette May Kingon
Address : 26 Ryan Street
Brown Hill, VIC 3350
Australia
No. of shares : 50 Ordinary Shares
% of shares : 50%
Structure
Related companies and
corporate
affiliations comments : None reported.
Bank Details
Name of bank : Bendigo Bank
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to
non related parties, however interested parties would be advised to consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Comments : The representative contacted Ms. Kathy declined to provide any financial
information until the inquiring party details are revealed.
The Subject is classified as a small proprietary company by the Australian
Securities & Investments Commission hence is not required to disclose their
financial statement.
A proprietary company is defined as small for a financial year if it satisfies at least
two of the following:
- The consolidated revenue for the financial year of the company and any entities
it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the financial year of the
company and any entities it controls is less than $12.5 million, and
-The company and any entities it controls have fewer than 50 employees at the
end of the financial year.
Main activities : The Subject engages in import and distribution of tools and equipments to
the electronics manufacturing & service industry.
Product & services : Air & Power Tools
Cable Tie Guns
Cable Ties
Cleaning Chemicals
Contact Lubrication Products
Flux
Lubricant
Resins
Crimp Tools
Cutting & Drilling Products
Dispensing Equipment
ESD Control Products
Fume Extraction Products
Insulated Tools
Measuring Tools
Networking & Data Tools
Pliers
Screwdrivers
Screwdriver Bits
Sockets, Spanners, Wrenches & Hex Keys
Soldering Equipment
Storage Systems
Wire Strippers
Test & Measurement Products
Tool Kits, Cases & Trolleys
Transit Cases
Ultra Sonic Cleaners
Vacuum Cleaners
Workshop Safety Products
Brand : 3M
ACL STATICIDE
AF INTERNATIONAL
AIM
ALPHA
AMPROBE
ANSELL
ASA
ATRIX
BERNSTEIN
CABAC
CETA-FORM
CHEMTRONICS
CHIPQUIK
CIRCUITWORKS
CK TOOLS
CLIPSAL
CRC INDUSTRIES
DAYLIGHT
DEOXIT
DESCO INDUSTRIES
DREMEL
EASYBRAID
EDSYN
ELCONTROL ENERGY
ELECTROLUBE
ENGINEER
ESCHENBACH
EXPLORER CASE
FANCORT INDUSTRIES INC
FISNAR
FLUKE
FLUKE NETWORKS
FRIEDRICH
GALDEN
GEARWRENCH
GORDON BRUSH
GT LINE
HAKKO
HITACHI
HOZAN
HT TOOLS
IDEAL INDUSTRIES INC
INOX
ITECO
JBC
KAPTON
KEIBA
KESTER
KILEWS
KIMBERLY CLARK
KNIPEX
KRONE
LEATHERMAN
LEISTER
LINDSTROM
LUXO
MAGGYLAMP
MANTIS
METCAL
MITUTOYO
MOLEX
MULTICORE
NICHOLSON
NIHON SUPERIOR
NILFISK
NORBAR
OK INTERNATIONAL
ORITECH
OWON
PACE
PANASONIC
PANAVISE PRODUCTS INC
PIERGIACOMI
PLATO
PRESSMASTER
PROCELL
PUREX LTD
RUXXAC
SIGLENT
SONICLENE
STANLEY
STEINEL
STERLING
SUPERLUBE
T&E TOOLS
TENG TOOLS
TRESTON
TSUNODA
WALDMANN
WELLER
WELLER ELECTRIC
WIHA
Purchases
International : Mainly from Italy, United Kingdom, China, Taiwan, South Korea
Sales
Local : Yes
International : New Zealand
Property & Assets
Premises : The Subject operates from the verified heading address consisting of a
warehouse and an administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 46.714 billion
Gross domestic product - GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2010: 2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010: 5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General Government
gross debt asa % GDP): 2010: 20.4%
2011: 22.9%
2012: 24%
Government bond ratings : Standard & Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
Shares : US$1.198 trillion
Largest companies in the country : Qantas Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal Services),Crown Ltd (Casinos & Gaming),
Amcor (Containers & Packaging),Suncorp-Metway (Diversified Insurance),
BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified
Metals & Mining), Orica (Diversified Metals & Mining), Iluka
Resources(Diversified Metals & Mining), Origin Energy (Electric Utilities),
AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths
(Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment
services), Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron &
Steel), Commonwealth Bank (Major Banks), Westpac Banking Group
(Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons (Oil
Services & Equipment), Toll Holdings (Other Transportation), Transurban
Group (Other Transportation), QBE Insurance Group (Property & Casualty
Insurance), Insurance Australia Group (Property & Casualty Insurance),
QR National (Railroads), Westfield Group (Real Estate), Stockland
Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease
(Real Estate), CFS Retail Property Trust (Real Estate), Goodman Group
(Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank of
Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals),
Telstra (Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9 billion
Exports commodities : Coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports : US$239.7 billion
Imports commodities : Machinery and transport equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum products
Export - major partners : China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major partners : China 18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554 million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows : 2009: US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for doing business : 10 out of 185 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as % of total
Population : 79%
Purchase Term
International : Telegraphic transfer, Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90 days
International : Telegraphic transfer, Credit 30 days
Trade Reference/
Payment
Behaviour
Comments : As local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.